United Technologies Corporation’s (UTX - Free Report) business arm — UTC Aerospace Systems — recently unveiled the company’s Lightweight Ballistic Protection System (LBPS) for its Cargo On/Off Loading System (COOLS), used in CH-47 Chinook flights.
UTC Aerospace Systems’ COOLS is widely used by warfighters in aircrafts like Boeing CH-47 Chinook. The United States as well as other overseas military customers largely depend on this system for its state-of-the-art cargo and troop transport services. These systems contain unique pallet locking system and transport rollers which accommodate large and small pallets. The Chinook flight operators are able to change the flat floor for troop transport to a cargo floor with rollers within just 15 minutes, with the help of COOLS. This makes warfighters’ mission-changing operations more efficient and quick.
The company stated that it’s the LBPS cargo loading system will provide up to 20% weight savings and aid in improving the fuel efficiency of flights. Additionally, the LBPS is entirely interchangeable and qualified with its traditional COOLS.
United Technologies provides specialized high-technology services and systems to the aerospace and building industries. The company’s UTC Aerospace business segment supplies advanced defense and products throughout the world.
Over the past month, United Technologies’ shares have rallied 4.5%, outperforming 2.1% growth recorded by the industry it belongs to.
This Zacks Rank #3 (Hold) company is poised to grow on the back of solid end-market demand, acquisitions and diligent cost-cutting moves. However, escalating cost of sales remains a major cause of concern for the stock. Over the past sixty days, the Zacks Consensus Estimates for the company’s earnings per share decreased 0.1% to $7.21 per share for 2018 but has been revised upward by 0.5% to $7.92 per share for 2019.
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